Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This notice is administered by the Financial Markets Authority.

Pursuant to sections 70B and 70D of the Securities Act 1978, the Financial Markets Authority gives the following notice (to which is appended a statement of reasons of the Financial Markets Authority).

The Financial Markets Authority (FMA) considers it appropriate to grant the extension of expiry because—

the principal notice, together with the Authorised Futures Dealers Notice (No. 3) 2007 (published in the Gazette on 7 June 2007, at page 1636) clarifies the regulatory treatment of certain derivative products, which gives registered banks greater certainty about their obligations when offering and dealing in these products. The principal notice has been in place for a number of years and the policy reasons for that notice remain valid and relevant. Consultation with market participants by the FMA has shown continued reliance on these exemptions:

given the continuing validity and relevance of the principal notice, and the continued reliance on these exemptions, the FMA considers its extension will not cause significant detriment to subscribers, and that the exemptions are not broader than is reasonably necessary to address the matters that gave rise to the exemptions.

Reprints notes

1 General

This is a reprint of the Securities Act (Registered Banks Futures Contracts) Exemption Amendment Notice 2012 that incorporates all the amendments to that notice as at the date of the last amendment to it.

2 Legal status

Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.